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The study by George Mason University economist Stephen Fuller was released in Annapolis, a day before a scheduled hearing on a proposal to raise the minimum wage in Maryland from $7.25 to $10.10 by 2016.
Gov. Martin O'Malley, a Democrat, supports the increase, because he says it will help the economy by providing people with more money to spend. Fuller, however, concluded that raising labor costs brings negative overall economic consequences, unless the wage hike is compensated by greater operational efficiencies or increased product and service quality that offset price increases from higher labor costs.
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Basic economics 101....then again most of the Dem's that propose this have never worked in the private sector....explains a lot of why these people are totally clueless.
ReplyDeleteAll it will do is put more people in the "system", which will drown out ANY tax bump they were hoping for.
ReplyDeleteDid you see the 24/7 Wall St article about Salisbury,7th worst city economy in the country.
ReplyDeleteI can argue the opposite of this "study" with other substantiated facts. It's been raised before, it will be raised again. Sky has not fallen. Get over it.
ReplyDeleteWhy not work on making the dollar worth a dollar..not 40cents...hell if it was worth its true face value we would all get a raise...raiseing the min wage just pushes inflation UP and we all loose more $ value...and these idiots cant see that...?
ReplyDeleteMinimum wage should be zero. Anything above that should be for qualifications, education, and performance based.I'm looking or folks that can be profitable at @20 an hour. That means you make me $60 per hour.
ReplyDeleteAny takers?